Monthly regular salaries were 436 thousand ISK in the year 2013 Featured

In the year 2013 employees’ mean monthly regular salaries for full-time employees were 436 thousand ISK. The most common salaries were between 250-300 thousand ISK and about 17% of the employees received regular salaries in that range. About 75% of the employees had monthly regular salaries less than 500 thousand ISK. Mean monthly regular salaries for men were 475 thousand ISK and 393 thousand for women.

Mean monthly total salaries for full-time employees were 526 thousand ISK. The most common salaries were between 400-450 thousand ISK and about 14% of the employees received total salaries in that range About 60% of the employees had monthly total salaries less than 500 thousand ISK. Mean monthly total salaries for men were 591 thousand ISK and 457 thousand for women.

Salaries of men were more widely distributed than salaries of women. The median was lower than the mean in all instances and therefore, more employees had salaries under the mean than over the mean. This may be explained partly by the fact that collective agreements set minimum wages but no maximum wages. Salaries of women were lower than salaries of men.

Regular salaries highest in the private sector and total salaries highest in the central government

Mean monthly regular salaries in the private sector were 467 thousand ISK for full-time employees and mean monthly total salaries were 556 thousand ISK. Mean monthly regular salaries in the public sector were 397 thousand ISK and the total salaries were 489 thousand ISK. When breaking the public sector down to the central government and the local government mean regular monthly salaries for the central government were 438 thousand ISK and total salaries were 570 thousand ISK. Regular salaries in the local government were 356 thousand ISK and mean monthly total salaries 409 thousand ISK. Only employees paid by the state treasury and the municipalities belong to the public sector. Others are a part of the private sector.

Highest salaries in Financial and insurance activities and Electricity, gas, and steam supply

The mean regular salaries were highest in the economic activity of Financial and insurance activities (K) 653 thousand ISK in 2013. The total regular salaries were highest in the economic activity of Electricity, gas, and steam supply (D) or 702 thousand ISK. Salaries were lowest in the economic activity of Education (P) were regular salaries were 360 thousand ISK on average and mean monthly total salaries were 416 thousand ISK.